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April 23, 2024

The US-ASEAN Business Council hosts Malaysia’s Minister of Finance II, and Governor of Bank Negara Malaysia, during Official Washington Visits

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April 23, 2024

(Washington, D.C.) – On April 18, 2024, the US-ASEAN Business Council (US-ABC) together with its members including ConocoPhillips, Amazon, Organon, Chubb and other US companies welcomed Malaysia Finance Minister II, H.E. Senator Amir Hamzah Azizan, and Governor of Bank Negara Malaysia, Abdul Rasheed Ghaffour, at a luncheon during their first official visits to Washington, D.C. 

The event served as an opportunity for the Malaysian officials to brief American business executives on Malaysia’s economic outlook and the government’s economic policy priorities. ​ ​ 

Marc Mealy, Chief Policy Officer and Senior Vice President of the US-ASEAN Business Council noted Malaysia’s strategic importance to the global semiconductor industry and applauded the government for the successful kick-off of numerous industry strategies and reforms based on the Madani Economy Framework. ​ 

Minister Amir Hamzah addressed Malaysia’s ongoing political and economic reforms in his keynote briefing. He also discussed Malaysia’s increasing prominence on the geopolitical stage, role in the semiconductor industry value chain, and the digitalization of industries to include the establishment of data centers. To help in these ambitions, he called on US companies to “double down” on their investments in Malaysia. Minister Amir Hamzah’s remarks also highlighted some of Malaysia’s anticipation and preparations for its role as the 2025 ASEAN Chair, stating that it is time for Malaysia to “earn its place in the region and the world.” 

The roundtable luncheon was well attended by representatives from the Malaysian Ministry of Trade and Industry, the World Bank, U.S. Trade Representative, and supported by the US-ABC members including ConocoPhillips, Amazon, Organon and Chubb. In addition, Boeing, Liberty Mutual, and Micron were also in attendance. ​ 

From May 7 to May 9, 2024, the US-ASEAN Business Council will be holding its annual Business Mission to Kuala Lumpur, Malaysia. Additionally, and from May 13-16, US-ABC will conduct a Business Mission to East Malaysia to the city of Kuching in Sarawak State. 


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